123 Victoria Street set for major overhaul
Property development company Land Securities has commenced work on a significant refurbishment project on a South West London office space. 123 Victoria Street, which is located in the SW1 postcode area, was recently granted permission by Westminster City Council for a major overhaul. The building will be used for multiple purposes including office space and retail outlets.
Originally built in the 1970s and referred to as Ashdown House, 123 Victoria Street currently consists of more than 225,000 square feet in available space, of which 177,000 is dedicated to office space.
The premises was occupied by governmental groups until early 2010, when the /united Kingdom enforcement body decided not to renew the lease as part of its wider plans to reduce its overheads by consolidating many of its departments under one roof.
Land Securities’ intended work includes several improvements to the exterior of the building such as new glazing, replacing the roof and refurbishing its roof terraces.
It is expected that the improvements to the office space will mean that the developer will be able to secure a number of new high profile tenants. Available space will be divided into a number of ‘floor plates’, which will begin at 5,000 square feet. The largest office space within the building will be 35,000 square feet.
123 Victoria Street is one of several London-based developments for Land Securities, as it is recently completed Cardinal House in Victoria. Other projects currently under construction include 62 Buckingham Gate, a 275,000 square foot retail and office space due for completion in 2013.
